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China's 122.8t yuan headache underscored by equity swings

Wed, Jan 21, 2015 - 5:50 AM

Liquidity in China is springing up like a jack-in-the-box, driving property prices, then shifting to stocks, before moving on to whatever may be next.

PHOTO: AFP

Beijing

FOR China's central bank, the 36 per cent stock market rally through Jan 16 spurred in part by a surprise November interest-rate cut is the latest reminder that it's easier to unleash money than to guide it to the right places.